Chinese manufacturer Hisense is seeing increased prominence in the TV market. In a report by American market research firm Display Search, Hisense is the market leader in its home country with a shipment share of 18.5%, which puts it in fourth place globally.
It is a significant jump for Hisense, who was not even among the top 5 in the same quarter last year. The company contributed a total of 5.3% of overall units shipped worldwide. This brings Hisense up almost on a par with Sony, losing out to the latter by only 0.1%. When converted to dollar value, Hisense also took fourth place, representing 6.4% of the world's total.
In addition, Hisense's 4K offerings placed the company at second position in terms of both volume and dollar value, at 20.4% and 16% of the market respectively.
The Qingdao-based company is also among the top 3 in the large-screen TV market. In the 50 to 54 inches segment, Hisense surpassed Sony to third place, with a global market share of 10.7%; in the 55 to 59 inches segment, it is now number two with a global market share of 13.5%.
For the most part, Hisense's rise isn't all too surprising. In the past year, it has been focusing on developing high-end smart TVs and 4K TVs, and sales for these TVs are known to be on the up. The company is also aggressively exporting its TVs to markets outside of China. While it's virtually an unknown brand here in Singapore, Hisense TVs are stocked by major retailers in the U.S., Europe, and Australia.
In this Quarterly Global TV Shipment and Forecast Report, a total of 49.7 million TV sets were shipped around the world in Q1 2014, same as Q1 2013. Samsung stayed at the top, while LG also maintained its runner-up position. Sony, ranked third this time, also saw a marked improvement from its fifth position for Q1 2013. Fifth place went to Chinese manufacturer TCL.